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In today’s commercial real estate market, the only certainty is uncertainty. This is not a call for panic, but rather a call for balance. Now is not the time for bet-the-firm risks, nor is it a time for total retreat to the...more
In commercial leases, "operating expenses" (often referred to as OPEX, CAM or Common Area Maintenance) generally cover the costs associated with the daily operation, maintenance, and repair of the property. In addition to...more
A Right of First Refusal (ROFR) Clause is an optional clause that may be included in certain commercial leases which grants a tenant the first right to buy the property should the owner decide to sell....more
In negotiating leases, there are many potential pitfalls. Below, we highlight three common issues, as well as smart strategies that will lead to better outcomes at the negotiation table. A failure to distinguish important...more
A significant inducement in many new leases and lease renewals is landlord funding and/or constructing improvements that customize the leased premises to the needs of the tenant’s business. The allocation of cost for these...more
Although the COVID-19 pandemic has ebbed from the daily lives of workers, its impact on hybrid work continues. While no consensus has emerged, the hybrid work model, which requires splitting the work week between going into...more
In the world of commercial leasing, the relationship between landlords and tenants and, by extension, subtenants, is at the heart of the leasing arrangement. But what happens when arrangements change and relationships shift?...more
On December 19, 2024, the Supreme Court of California passed down a unanimous decision in a lawsuit closely watched by commercial real estate landlords and retail tenants that involved the validity of so-called cotenancy...more
In the post COVID-19 era, the office leasing market has faced significant challenges due to remote work and hybrid models, particularly in non-trophy-class buildings. One healthy exception to the office market struggle is the...more
On September 30, 2024, Governor Newsom signed into law Senate Bill 1103, an unprecedented legislative measure affecting non-residential landlords’ transactions with a broadly defined class of “qualified commercial tenants.”...more
A landowner desiring to enter into a license agreement for the use of real property must take care to ensure that the license agreement does not contain terms that inadvertently waive the landowner’s right to recover the...more
This advisory discusses the recent case law developments on the express duty of "good faith" in English law and what they may mean within the context of commercial real estate....more
A recent case weighed the extent to which a purchaser was able to negotiate terms when exercising a purchase of property under an option in a lease. The litigation began when, after the tenant/buyer exercised its purchase...more
Briefcase: Quarterly Real Estate Update - Cases and News including: ..The Royal Parks Limited and the Secretary of State for Digital, Culture, Media and Sport v Bluebird Boats Limited ..Monsolar IQ Ltd v Woden Park...more
With our blog post of December 14, 2020, we had already pointed out the corresponding legislative initiative. In record time, two new provisions on commercial leases (excluding residential leases) were subsequently adopted on...more
Who gets what when a lease of real property is over? This is a question that can be problematic for both landlords and tenants. If the tenant installed additional improvements or made alterations to the premises, will...more